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Jobs Bill * USA - Obama Set to Sign, Following Senate Approval
$20 billion infusion into highway and transit programs
Washington,DC,USA -The Associated Press/Transport Topics -17 March 2010: -- President Obama is set to sign a jobs bill that would give a $20 billion infusion into highway and transit programs, following the Senate’s approval of the measure Wednesday... The measure will give companies that hire unemployed workers a temporary payroll tax break, and optimistic estimates predict that could generate 250,000 jobs through the end of the year... The figure, however, would just be a fraction of the 8.4 million jobs lost since the start of the recession in 2007... In addition to the transportation funds, the bill contains about $18 billion in tax breaks, exempting businesses that hire people who have been unemployed for at least 60 days from paying the 6.2% Social Security payroll tax through December... Taxpayers will have to reimburse Social Security for the lost revenue, AP reported...Labels: infrastructures funds, transport funds
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